You've probably heard the numbers – global renewable energy capacity grew 50% faster in 2023 than previous projections. But here's the catch – what happens when the sun isn't shining or wind stops blowing? Traditional lithium-ion batteries, while useful, sort of hit a wall when it comes to large-scale storage. That's where Energy Vault's 300-foot tall gravity towers come into play, offering up to 80% efficiency in energy recovery.
You know, Colombia's facing an energy paradox. While 70% of its power comes from hydropower, 2023's El Niño drought slashed reservoir levels to 29% capacity - the lowest in 40 years. This forced thermal power plants to compensate, driving residential electricity prices up by $0.04/kWh since January. But here's the kicker: households in Medellín and Bogotá are now spending over $120 monthly on energy bills.
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